Form 990 Filing Tips: Reporting Foreign Activities (Schedule F)

Schedule F is a new schedule required for 2008 tax years. Schedule F requires the reporting of activities outside of the United States or foreign investments valued at $100,000 or more. Questions have arisen regarding the new foreign activity reporting requirements, including how passive and related organization investments should be reported on Schedule F.

These FAQs do not address or modify the reporting requirements that might apply to your organization in the case of certain foreign activities, such as Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (commonly referred to as FBAR reporting), Form 5471, Information Returns of U.S. Persons With Respect to Certain Foreign Corporations, or Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation, or Person.